Late on July 20, Ecuador's state-run oil firm Petroecuador named chemical engineer Carlos Pareja Yannuzzelli as its new general manager, as the smallest member of OPEC struggles to keep its economy afloat amid low oil prices.
Pareja Yannuzzelli has held a number of posts at Petroecuador and is currently in charge of the overhaul of the 110,000 barrel-per-day Esmeraldas refinery.
He will replace Marco Calvopina, who led Petroecuador for four years. The company announced the change in a brief statement that did not describe the reason for the management change. Officials were not available for comment.
Lower oil prices have forced Ecuador to cut economic growth projections and slash state expenditures.
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